SINGAPORE - Mainboard-listed Digiland International announced on Wednesday that its wholly-owned unit, Digiland, has acquired a 65 per cent stake in Singapore software maker iBase Technology International.
Digiland's internal resources will be used to fund the $26,000 acquisition sum that accounts for 26,000 shares. iBase will then become a unit of the IT company.
In a separate announcement, Digiland International said Digiland and iBase will now form a joint venture to develop and market "real-time, multi-user enterprise solutions to support global e-Government initiatives across all devices and platforms".
Its suite of solutions fall under the UBERIQ brand. They seek to improve information accessibility, workflow efficiency and process quality control in three areas, namely accounting and claims management, human resource management and real estate and facility management.
From July, the joint venture will embark on a regional campaign across emerging economies and developing E-Government Development Index nations in Asia, Europe and Africa to showcase its UBERIQ suite of solutions.
Digiland said the venture has received interest from Indonesia, Hong Kong and countries in Africa in its services.
A year ago, the firm announced plans to transform itself into an oil and gas player. In May, its wholly-owned unit International Energy Group entered into a joint venture with a Maltese government agency to develop the Republic of Malta into a Europe-Asia energy trading hub.